2014 Sunshine Coast Monthly Sales Stats

[Skook]

It's that time of the month. Put another log on the fire; pour yourself a scotch (it's a wee dram of Drambouie, for me); put on some soft, jazzy music - maybe Michael Bublé; turn down the lights; pull up the wing back chair; take a deep breath in and out; and try, try to relax because it's 'Real Estate Reflections' with Sunshine Coast real estate agent Kenan MacKenzie - hot off the press in today's Coast Reporter Real Estate Weekly.

Quote:Sunshine Coast Detached Listings
There are 614 current detached listings up from January’s 565. Detached sales ending February 28, 2014 totalled 37, in 2012 there were 50 sales and in 2011 there were 69 sales for the same time period. The current market’s hot price range is below $400,000, with 26 sales occurring in this price range. With the current pace of sales this represents a 33-month supply of listings.

(Skook note: where does he get 37 detached sales? The REBGV reports 23, Gary Little reports 22 (20 DET + 2 MOP), and I figure there were 21 (19 DET + 2 MOP). Oh, wait, total sales of all types - detached, attached, and land - were 37 in February. Nice try, Kenan. 33 months = 2 years, 9 months. Pour another scotch.)

Sunshine Coast Attached Listings
There are 152 current attached listings. Attached sales ending February 28, 2014 totalled 16, in 2013 there were 11 sales and in 2012 there were 15 sales for the same time period. With the current pace of sales this represents a 19-month supply of listings. Attached listings represent strata unit apartments, condos and townhouses. Attached sales are up slightly over the previous year.

(Skook note: 19 months = 1year, 7 months)

Sunshine Coast Land Listings
There are 365 bare land listings. Land sales ending February 28, 2014 totalled six sales, in 2013 there were nine sales and in 2012 there were eight sales. With the current pace of sales this represents a 121-month supply.

(Skook note: 121 months = 10 years, 1 month - Holy crap, Batman! I'm pouring another dram, do you need another scotch while I'm up?)

The stats below are for detached sales only and for the entire Sunshine Coast for the month of January:

• $000 to $300,000 with 14 sales
  
• $301,000 to $400,000 with 12 sales
  
• $401,000 to $500,000 with five sales
  
• $501,000 to $600,000 with three sales
  
• $601,000 to $700,000 with two sales
  
• $701,000 to $ 800,000 with zero sales
  
• $801,000 to $900,000 with zero sales
  
• $901,000 to $1,000,000 with one sale
  
• Zero sales over $1,001,000 this month
  

(Skook note: some of those price range totals don't make sense. It looks likes some totals are from January and some from February. See the REBGV stats tables in post above. How's your scotch?)

February was definitely a lack lustre month, I think with the Olympics on and the weather buyers decided to stay out of the market. The feedback I am getting from the agents is they are working with more buyers than the last few years. This will turn into sales so sellers do not despair and buyers take advantage while you can. The listing price is still your best marketing tool, keep it sharp.

(Skook note: I think Kenan's been reading my posts; you know Olympics and weather. More buyers...yeah, all wanting lower prices, so seller despair quotient is up. Don't worry buyers, no rush, there will be lots of houses to go around for years to come. Keep your listing price sharp?? How about keep your pencil sharp and an eraser handy as you keep dropping those house prices. Damn, I need a scotch with my dram.)

The Sunshine Coast has some great buying opportunity for someone looking for a great deal, history shows us that it will not last and the seller will be in the driver’s seat soon.

(Skook note: are you into the scotch, too, Kenan? Seller in the driver's seat soon? Oy, vey...pass me the bottle who needs a glass.)

Here's a market update for you. From Saturday, March 1st until Thursday, March 6th, there were six sales.

Gibsons: 1 attached, 2 detached ($267,500; $519,000)
Roberts Ck: no sales
Sechelt: 2 detached ($175,000; $314,000)
Halfmoon Bay: 1 detached ($219,500)
Pender Harbour: no sales

What do you say we finish the bottles and call it a day.